(click to quick jump)Key Info on Mayfair Gardens Singapore – Location (with Video), Transport & Amenities → 8 Things of Mayfair Gardens you SHOULD know including →
- Mayfair Gardens Singapore – Rental Analysis →
- Mayfair Gardens 99 Leasehold vs Freehold? →
- Prestigous School nearby →
WHAT’s so special about Mayfair Gardens
Mayfair Gardens is the upcoming new condominium that is slated to launch in September 2018. Following the preceding Mayfair Gardens Enbloc sale, this new condominium is a highly anticipated launch in the district D21 Bukit Timah Estate, Singapore. The Mayfair Gardens showflat will be launched on 15th September, do register your interest with us!
Check this out! The location map.
The land parcel where Mayfair Gardens Condo sits on is bounded by Rifle Range Road and situated off the Dunearn Road and Bukit Timah Road. It is very close to prestigous schools including Methodist Girls’ Primary and Secondary School, Nanyang Primary School, Nanyang Girls’ High School and Hwa Chong Junior College.
Mayfair Gardens Singapore Areial Video.
Over looking at surrounding amenities – Bukit Timah surrounding area.
Mayfair Gardens surrounding view towards the direction of Bukit Timah Nature Reserve.
(Mayfair Park, Rail Corridor, Rifle Range Road, Existing Mayfair Gardens)
In terms of connectivity, a MRT station is a 5-min walk from the Mayfair Gardens, because it is only 330m from King Albert Park MRT station of the Downtown Line, in between Sixth Avenue and Beauty World MRT Station. Based on urban planning, King Albert Park station will become an interchange of the future Cross Island line.
Mayfair Gardens is also next to the Pan Island Expressway (PIE), which connects drivers to all parts of Singapore. Centrally located, it will only take around 10 minutes to drive to Orchard Shopping District and 17 minutes’ drive to the Central Business District (CBD).
There is no lack of amenities, retails, dining and entertainment options for the residents of Mayfair Gardens, they will be spoilt for choice. Beauty World Center and Bukit Timah Shopping Center is just one MRT stop away from the King Albert Park MRT station or a 5-min drive from Mayfair Gardens.
Condominiums that are within a short walk of an MRT station are typically popular and well sought after for investment or own stay. It is very convenient for staying in and much easier to rent or resale, and have a great capital appreciation potential.
Mayfair Gardens Condo will be an excellent option for your property investment.
Mayfair Gardens Singapore – Project Detail
|Project Name||Mayfair Gardens|
|Address||8, 10, 12 and 14 Rifle Range Road|
|Developer||Citrine Property Pte Ltd (Subsidiary of Oxley Holdings Limited)|
|Site Area||10788.8 sqm|
|No. of Units||215 units|
|No. of Storey||5 storeys|
|No. of Block||4 blocks|
|Unit Mix & Size Range||1 Bedroom to 4 Bedrooms, Penthouse|
|Expected TOP Date||Est 2024|
Mayfair Gardens Singapore Unit Mix
|Unit Type||Estimated Size (sqft)||No. of Units|
|1 Bedroom||495 - 646||25|
|1 Bedroom + Study||549 - 743||64|
|2 Bedroom||700 - 915||72|
|2 Bedroom + Study||786 - 969||14|
|3 Bedroom||1001 - 1206||26|
|4 Bedroom||1216 - 1249||8|
|Penthouse||1550 - 1744||6|
MAYFAIR GARDENS SINGAPORE SHOWFLAT – 15th Sept 2018
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8 Things You Need to Know about MayFair Gardens New Launch (2018 edition)
8. Mayfair Gardens is developed by reputable developer, Singapore public listed developer: Oxley Holdings.
Mayfair Gardens Developer – Oxley Holdings is a multiple award-winning developer and a public listed home-grown Singaporean property developer.
In recent news, Oxley Holdings announced its sales revenue to hit $1b in Singapore and $446m overseas so far within 2018.
It doesn’t stop there.
It plans to launch 12 more projects in the city worth $3.8b.
This video below is an interview from Business Times to the CEO of Oxley Holding. Take a look!
7. Its Location at Bukit Timah – premier neighbourhood in Singapore
- 330m walk to King Albert Park MRT, condominium within walking distance to MRT station are typically popular and well sought after for investment or own stay
- 200m walk to closest supermarket and eatries. Nearby major banks namely DBS, UOB, OCBC and Maybank.
- Established schools namely Methodist Girls’ Primary & Secondary Schools, Pei Hwa Presbyterian Primary School, Hwa Chong Institution, Hwa Chong Junior College, National Junior College, Nanyang Primary School, and Nanyang Girls’ High School, are located close to the development. Reputable tertiary institutions such as Ngee Ann Polytechnic and the Singapore Institute of Management are also located close by.
- Major roads as well as expressways such as Pan-Island Expressway (PIE), Bukit Timah Road, Dunearn Road, Clementi Road and Ayer Rajah Expressway (AYE)
- Nearby Bukit Timah Plaza, Bukit Timah Shopping Centre, Courts, Eating Places along Cheong Chin Nam Road, Bukit Timah Market and Food Centre
6. Mayfair Gardens for Rental? Read the analysis below
There have been much talk about “Should one buy Freehold (FH) or 99 years leasehold property?”
Does the Rental really differ a lot?
While there are various schools of thoughts, I would like to compare using the immediate 2 condominiums beside Mayfair Gardens: The Blossomvale and Gardenvista.
We shall use a 2 bedroom as a comparison,
The Blossomvale, FH (840 sq ft, transacted $1622psf)
Purchase Price: $1,362,480 ($1622psf)
Rental ($2300 – $2700): Assume we take $2300
Rental Yield: 2.02%
Gardenvista, 99 Leasehold (947 sq ft, transacted $1362psf)
Purchase Price: $1,289,814
Rental ($2800 – $3500): Assume we take $2800
Rental Yield: 2.6%
From the case study above, we are able to observe the following,
- Entry price for 99 years leasehold (Gardenvista) is lower as compared to FH (The Blossomvale)
- For this instance, rental yield of a 99 years leasehold is better than a FH
We are unable to conclude that a FH development is able to command a high rental return. From an investor point of view, lower entry price and higher returns will be a more attractive option. If the case study is using the higher limits of the rental, Gardenvista rental yield will cross 3%.
You’ve got it!
Other than comparing FH vs 99, there are other factors that will affect the rental returns. A few factors include age of the development, the unit facing (swimming pool view, unblock view etc), condition of the unit, partial or full furnish, asking price etc.
One of the key differences we notice in today’s market is that, tenants tend to prefer newer development as they will expect lesser maintenance issues as compared to an older development.
5. Mayfair Gardens, is it worth investing? Freehold vs Leasehold, the bottom line.
Let’s now do a comparison on property price between FH and 99 years leasehold development. We shall continue to use The Blossomvale and Gardenvista as case study.
Think about it this way.
One of the common reasons in choosing a FH development over a 99 years leasehold development, is that “when crisis hits, the value of a FH condominium will be more stable as compared to a 99 years leasehold.”
Or is it?
If we were to refer to Singapore Property Index (URA website), we will know that Singapore property price downturn in the year of 2008 and 2013. Referring to the chart below, we will notice that both developments increased and decreased along with the market.
That’s when it hit me!
We do not see FH property avoid price correction as compared to a 99 years leasehold.
In today’s market, we do not see many “fire sales” as compared to few years back. The main reason could be because of the numerous cooling measures introduced by government since 2010.
Sellers will be subjected to Seller Stamp Duty if property is purchased and sold within 3 or 4 years (depending on date of purchase). At the same time, buyers with more than 1 property loan will be subjected to lower Loan-To-Value Limit.
And you’d be right.
When it comes to crisis, we do not see panics sales that will affect property prices in today’s market, whether for FH or 99 years leasehold development.
Is it therefore still wise to buy a 99 years leasehold property for own stay or investment? In my opinion, it all depends on your holding period. What should be your entry and exit strategy for a 99 years leasehold property? Is Mayfair Gardens worth considering?
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if you are keen to explore Mayfair Gardens Singapore.
4. Shopping Centres Near the Mayfair Gardens
Singaporean loves shopping.
Singapore major shopping belt and tourist attraction, Orchard Road, is just a 10-minutes drive away from Mayfair Gardens and it will satisfy even the most hardcore of all shopaholics among us.
For grocery shopping, you will have no lack of choices.
Besides the markets at Greenwood Avenue and PasarBella for fresh specialty produce, most grocery shopping can be done at Cold Storage in Cluny Court and 6th Avenue Centre and NTUC Fairprice at Coronation Shopping Plaza.
Easily accessible by MRT, many other shopping centers, including Bukti Timah Plaza, Coronation Shopping Plaza and Beauty World Centre are within only a few stops away from King Albert Park station.
Indeed a very good location for MAyfair Gardens Singapore.
3. Even more eateries around Mayfair Gardens
Singaporean loves to eat too!
And hawker food is a must.
Bukit Timah Food Market & Hawker Centre, which is just around the corner is a food heaven for foodies and it is famous for its delicious local hawker food.
Some of the must-trys are satay bee hoon, hokkien mee, seafood white bee hoon and fried carrot cake. You can check out The 10 Best Stalls in Bukit Timah Market & Food Centre.
Another nearby famous hawker center is Adam Road Food, it is also widely regarded as among the best in Singapore. Adam Road Food Centre is famous for nasi lemak.
There are little known gems inside Beauty World Plaza, Bukit Timah Shopping Centre and Coronation Shopping Plaza offering scrumptious local cooking.
The former Bukit Timah Race Course has been renovated, and is currently home to The Grandstand, which houses several food outlets and restaurant, childcare centers and a Giant supermarket.
Greenwood Avenue and PasarBella at Turf Club Road are known for their markets, Greenwood Avenue for its fish market and PasarBella for gourmet produce that expatriates use for cooking up their own tastes of home.
In addition to the markets, a smorgasbord of Brazilian, Italian, Mexican and Western restaurants and fish-and-chip shop draw locals and foreigners to Greenwood Avenue while PasarBella makes seafood, roast pork and pastries come to mind. The artisan breads and pastries at Baker & Cook in Greenwood Avenue, the Providore at PasarBella and Simply Bread just across the road from the latter at 6th Avenue Centre will please many a bread and cake aficionado.
European-style restaurants such as Choupinette, Marmalade Pantry, Picotin, Riders Cafe and Tin Hill Social dominate the food scene here, drawing patrons not only with their pizzas and pastas, but also the weekend brunchtime crowds with eggs benedict and cooked English breakfast.
Living in Bukit Timah area, staying in Mayfair gardens Singapore, you will be spoilt of choices on food!
2. Mayfair Gardens is near to nature spot (one of the best in Singapore)
Let’s face it, not many condominiums are near to nature reserves.
If you are a nature lover, you will love Mayfair Gardens. Bukit Timah Nature Reserve is just a 5-min drive away.
The Reserve is popular among athletes training for mountain-climbing.
Bukit Timah Nature Reserve is suitable for casual exercises like strolling, running and hiking.
1. Prestigous Schools near to Mayfair Gardens
It has come to the last part and the most important part.
Many elite schools are within the vicinity of Mayfair Gardens. Due to the number of expatriates living in the district, several international schools have sprung up in this region.
For families with children, regardless of where their present stage is, from toddler child care to tertiary education, the best ones out there for your children within the vicinity.
Can you handle it?
Those are Methodist Girls’ School (Primary), Nanyang Primary School, Pei Hwa Presbyterian Primary School, Hwa Chong Institution, Methodist Girls’ School (Secondary), Nanyang Girls’ High School, National Junior College, Ngee Ann Polytechnic and Singapore University of Social Sciences (former SIM University)
MAYFAIR GARDENS SINGAPORE
REGISTER YOUR INTEREST BELOW
Mayfair Gardens launch is on 15th Sept. If you’re interested to attend the Mayfair Gardens showflat viewing, kindly register your interest.
Comparison of 10 nearby condominiums of Mayfair Gardens new launch
- The Blossomvale
- TOP in 1999
- 2 Bedroom, 840 sq ft, transacted $1622psf (May ’18)
- 3 Bedroom, 1281 sq ft, transacted $1460 psf (Mar ’18)
- 2 Bedroom, $2300 – $2700 (Jun ‘18)
- 3 Bedroom, $3800 – $4300 (Jun ’18)
- TOP in 2006
- 2 Bedroom, 947 sq ft, transacted $1362psf (May ’18)
- 3 Bedroom, 1130 sq ft, transacted $1449 psf (Jun ’18)
- 4 Bedroom, 1346 sq ft, transacted $1315psf (Apr ’18)
- 1 Bedroom, $2500 (Mar ’18)
- 2 Bedroom, $2800 – $3500 (Apr – May ‘18)
- 3 Bedroom, $3300 – $3800 (Apr – May ’18)
- 4 Bedroom, $4300 (Jun ’18)
- KAP Residences
- TOP in 2017
- No Records from URA as of 23 Jul 2018
- 1 Bedroom, $1850 – $2400 (Jan – Jun ’18)
- 2 Bedroom, $2000 – $3000 (Jan – Jun ‘18)
- 3 Bedroom, $3000 – $4500 (Apr – May ’18)
- 4 Bedroom, $3700 – $4200 (Jan – Jun ’18)
- The Sterling
- TOP in 2001
- 3 Bedroom, 1292 sq ft, transacted $1703psf (Jun ’18)
- 4 Bedroom, 1862 sq ft, transacted $1557psf (Sept ’17)
- 1 Bedroom, $2500 – $2525 (Oct – Nov ’17)
- 2 Bedroom, $3000 (Apr ‘18)
- 3 Bedroom, $3100 – $4000 (Apr – Jun ’18)
- 4 Bedroom, $5000 – $5300 (Apr – Jun ’18)
- Maple woods
- TOP in 1997
- 2 Bedroom, 980 sq ft, transacted $1562psf (Jun ’18)
- 3 Bedroom, 1335 sq ft, transacted $1611psf (Jun ’18)
- 4 Bedroom, 1787 sq ft, transacted $1573psf (Mar ’18)
- 2 Bedroom, $2500 – $3000 (Jun ‘18)
- 3 Bedroom, $3500 – $6000 (Apr – Jun ’18)
- 4 Bedroom, $8500 (Mar ’18)
- The Nexus
- TOP in 2007
- 2 Bedroom, 980 sq ft, transacted $1562psf (Jun ’18)
- 3 Bedroom, 1335 sq ft, transacted $1611psf (Jun ’18)
- 4 Bedroom, 1787 sq ft, transacted $1573psf (Mar ’18)
- 1 Bedroom, $2200 – $2500 (Apr – Jun ’18)
- 2 Bedroom, $2800 – $3300 (May – Jun ‘18)
- 3 Bedroom, $3700 – $4500 (May – Jun ’18)
- 4 Bedroom, $4200 – $5050 (May – Jun ’18)
- TOP in 2012
- 2 Bedroom, 872 sq ft, transacted $1835psf (May ’18)
- 3 Bedroom, 1281 sq ft, transacted $1881psf (Jun ’18)
- 4 Bedroom, 1851 sq ft, transacted $1809psf (Jun ’18)
- 2 Bedroom, $3200 – $3500 (May – Jun ‘18)
- 3 Bedroom, $4300 – $7500 (Apr – Jun ’18)
- 4 Bedroom, $7000 – $7500 (Mar – Jun ’18)
- The Cascadia
- TOP in 2011
- 1 Bedroom, 581 sq ft, transacted $1600psf (Apr ’18)
- 2 Bedroom, 990 sq ft, transacted $1679psf (Jun ’18)
- 3 Bedroom, 1184 sq ft, transacted $1731psf (Jul ’18)
- 4 Bedroom, 1410 sq ft, transacted $1808psf (Jun ’18)
- 1 Bedroom, $2500 (May ’18)
- 2 Bedroom, $2800 – $3100 (May – Jun ‘18)
- 3 Bedroom, $3800 – $4700 (May – Jun ’18)
- 4 Bedroom, $4900 – $5150 (May – Jun ’18)
- The Tessarina
- TOP in 2003
- 2 Bedroom, 1033 sq ft, transacted $1742psf (Apr ’18)
- 3 Bedroom, 1324 sq ft, transacted $1699psf (Jun ’18)
- 4 Bedroom, 1615 sq ft, transacted $1734psf (Jun ’18)
- 2 Bedroom, $3100 – $3200 (Jun ‘18)
- 3 Bedroom, $3300 – $5500 (Jun ’18)
- 4 Bedroom, $4800 – $5100 (May – Jun ’18)
- Suites De Laurel
- TOP in 2014
- 1 Bedroom, 517 sq ft, transacted $1510psf (May ’18)
- 2 Bedroom, 614 sq ft, transacted $1508psf (Jun ’18)
- 1 Bedroom, $1800 – $2100 (May – Jun ‘18)
- 2 Bedroom, $2400 – $2700 (Mar ’18)
- 3 Bedroom, $2500 (May ’18)
RECAP on Mayfair Garden Enbloc
Recap: On November 2017, public listed property developer – Oxley Holdings, succeeded in snapping up the Former Mayfair Gardens condominium in Rifle Range Road, off Bukit Timah Road. The final amount was $311 million, a surplus of $46 million on top of the reserve price of $265 million. Coming to ROI, each unit owner will receive a gross sale price of around $1.7 million to $2.89 million; a decent amount of property appreciation.
The sale price, with an additional lease top-up premium estimated at $52 million to top up the lease to a fresh 99 years, translates to a land price of about $1,244 per square foot per plot ratio (psf ppr), said marketing agent Knight Frank in a statement on Sunday (Nov 19, 2017).
And just last month, july 2018, news released that Oxley Holdings is going ahead with its launch plans even in the face of harsh property cooling measures. The developer had planned a 2018 rollout of eight to 10 projects with a total of 3,900 units by year-end. Oxley is not going to let the property cooling measures derail its launch plans this year. “We’re left with only five months [this calendar year],” says Ching, CEO of Oxley Holdings. “We’re going [to launch] at breakneck speed.”
This listed developer are confident with their projects to be rolled out. One of the project is Mayfair Gardens new launch on Rifle Range Road.
Mayfair Gardens Enbloc News
In Nov. 2017, Singapore listed developer OXLEY Holdings’ subsidiary Citrine Property has successfully sealed its S$311 million deal for the 124-unit former Mayfair Gardens enbloc sale.
The former Mayfair Gardens enbloc sale price, together with an additional lease top-up premium expected to be at S$52 million to top up the lease for another free 99 years, translates to a land price of approximately S$1,244 per square foot per plot ratio (psf ppr).
With this price, each owner at the former Mayfair Gardens condo stands to get a gross sale price of around S$1.7 million to S$2.89 million.
Mr Ian Loh, executive director and head of investment and capital markets at Knight Frank, said the new development could potentially house 387 homes of an typical 70 sq m in size. “At the sale price of $311 million, the breakeven price for the new project is estimated at $1,780 psf,” he said.
The site has a land area of 19,368sqm or 208,477sqft and a plot ration of 1.4, which translates to a gross floor area of about 291,865 sqft.
The former Mayfair Gardens is a private residential estate, it comprises six residential walk-up blocks with 124 apartment units.